Berry Petroleum Company and Equiva Enter Into Strategic Alliance.Business Editors TAFT, Calif.--(BUSINESS WIRE)--April 6, 2000 Berry Berry, former province, France Berry (bĕrē`), former province, central France. Bourges, the capital, and Châteauroux are the chief towns. Petroleum Company (NYSE NYSE See: New York Stock Exchange :BRY) today announced that it has entered into a three year agreement with Equiva Trading Company to sell substantially all of its crude oil production from its San Joaquin Valley Noun 1. San Joaquin Valley - a vast valley in central California known for its rich farmland Calif., California, Golden State, CA - a state in the western United States on the Pacific; the 3rd largest state; known for earthquakes and Placerita properties. The agreement became effective April 1, 2000 for certain volumes and will include additional volumes as other existing crude oil contracts expire between now and Aug. 1, 2000. The agreement provides a pricing formula that is based on several market variables, including California and world crude oil prices. Mike Starzer, Vice President of Corporate Development, stated: "We believe this alliance will benefit both companies. From Equiva's standpoint The Standpoint is a newspaper published in the British Virgin Islands. It was originally published under the name Pennysaver, largely as a shopping-coupon promotional newspaper, but since emerged as one of the most influential sources of journalism in the , it provides a long-term reliable source of California heavy crude oil Heavy crude oil or Extra Heavy oil is any type of crude oil which does not flow easily. It is a relative term, compared to light crude oil, but relates to specific technical issues of its own on production, transportation, and refining. convenient to their transportation systems. From Berry's standpoint, it provides for improved crude oil price realizations." Berry Petroleum Company is a publicly traded independent oil and gas production and exploitation company that produces heavy crude oil and has headquarters in Taft. |
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